New York Markets After Hours

Estee Lauder profit rises 8%, sales up 3%

LONDON (MarketWatch) -- The Estee Lauder Companies Inc.
EL, -1.08%
on Thursday reported an 8% rise in fiscal first-quarter earnings to $299.5 million, or 76 cents are share, from $278.6 million, or 70 cents a share, in the year-ago-period. Adjusted earnings rose to 79 cents are share from 70 cents in the same quarter last year. Sales increased 3% to $2.55 billion compared to $2.48 billion in first quarter a year ago. Analysts surveyed by FactSet expected earnings of 76 cents a share on revenue of $2.54 billion. "Organic sales growth for the quarter was in line with our expectations, while earnings per share were better than planned. In particular, strong growth in North American and China drove our sales gains," said Fabrizio Freda, president and chief executive at Estee Lauder. The New York-based company said it expects earnings per share in the second quarter to come in between 97 cents and $1.03 with sales likely increasing between 6% and 7%.

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